CEE hotel deals put on hold amid coronavirus pandemic

bne IntelliNews March 26, 2020

After a vintage 2019, almost €2bn worth of deals were expected to close in the hotel sectors of six Central and Southeast European countries this year, but these are looking increasingly unlikely to complete, says a report from law firm CMS.

IIF forecasts a contraction of -1.4% in CEE, -1.3% in Russia, but Turkish growth remains in the black in 2020

Ben Aris in Berlin March 26, 2020

The Institute of International Finance (IIF) released updated forecasts for economic growth this year for the Central and Eastern Europe (CEE) countries that show a sharp slowdown in 2020 and all except Turkey will return negative results.

Is the pace of outflows from EMs starting to slow?

bne IntelliNews March 26, 2020

Equity and bond markets have been rocked by record volumes of outflows since the end of February in one of the biggest sell offs ever, but the pace of selling seems to be slowing in the last few days, said the Institute of International Finance (IIF)

Capital Economics slashes CEE growth forecasts for 2020 to -2% y/y

bne IntelliNews March 25, 2020

Economic consultancy Capital Economics has slashed its growth forecast for the Central and Eastern Europe (CEE) to a 2% y/y contractions from the previous 2.3% expansion in 2020, as a result of the coronavirus.

Coronavirus epidemic approaches exponential growth stage in some CEE countries

Clare Nuttall in Glasgow March 24, 2020

Cases have doubled in less than three days in several countries in the region, as governments desperately fight back with lockdowns.

Poland launches app to track people in coronavirus quarantine

bne IntelliNews March 24, 2020

Polish residents in home quarantine must take a selfie within 20 minutes of receiving an alert or face a visit from the police.

Citizens fear unscrupulous leaders will take advantage of lockdowns

Clare Nuttall in Glasgow March 23, 2020

Restricting social interaction is a vital part of the efforts to delay the spread of the coronavirus pandemic, but in some countries people fear politicians will use the opportunity for their own ends.

Poland’s coronavirus case toll races past 600 as state of epidemic kicks in

Wojciech Kosc in Warsaw March 23, 2020

Sunday marked the end of the first full week of partial lockdown imposed by the government in an effort to keep the epidemic at levels manageable by the country’s underfunded and understaffed health care system.

Polish retail sales see off good times with growth 7.3% y/y in February

bne IntelliNews March 20, 2020

February marked a gain of 3.9pp in retail turnover growth in comparison to the y/y expansion recorded in January. That will be the last positive reading from the retail sector as March figures will tank as an effect of the coronavirus lockdown.

Coronavirus crisis to widen rich/poor gap within Central and Eastern Europe

Clare Nuttall in Glasgow March 19, 2020

Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.

Poland announces €47bn programme to support economy in wake of coronavirus outbreak

Wojciech Kosc in Warsaw March 18, 2020

The government is reacting to the expected overwhelming impact that the outbreak is nearly certain to have on Poland’s economy in the months to come. Most analysts predict the country’s GDP growth to ease to no more than 2% in 2020 from 4% last year.

THE MITTELEUROPEAN VIEW: Looking for LUV — what shape will Europe’s recovery from this existential crisis be?

Gunter Deuber of Raiffeisen Research in Vienna with support from colleagues in Vienna & across the CEE region March 18, 2020

There is a new acronym in the economists' lexicon: VUCA. It is short for “Volatile, Uncertain, Complex and Ambiguous” as pundits are struggling to explain a crisis that is coming at us from all sides simultaneously.

Poland’s environment minister tests positive for coronavirus forcing tests for entire cabinet

bne IntelliNews March 17, 2020

Michel Wos testing positive and the need to test others led to delaying the March 17 meeting of the government at which details of an aid and stimulus package for the pathogen-stricken economy were to be discussed.

wiiw slashes 2020 growth forecast for CESEE to just 1.1%

Clare Nuttall in Glasgow March 17, 2020

Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.

Polish inflation growth reaches likely peak at 4.7% y/y in February

Wojciech Kosc in Warsaw March 15, 2020

The CPI will now begin its descent, as the radically altered macroeconomic environment in the aftermath of the coronavirus pandemic takes hold.

EBRD makes €1bn available as emergency measure to fight coronavirus impact

bne IntelIiNews March 15, 2020

The EBRD has unveiled an emergency €1bn “Solidarity Package” to help companies deal with the impact of the coronavirus pandemic.

Polish schools and public facilities in lockdown as government steps up efforts to contain coronavirus epidemic

Wojciech Kosc in Warsaw March 11, 2020

Closing down schools and other public spaces is a preventative measure so that Poland avoids a situation similar to the one currently unfolding in Italy, Prime Minister Mateusz Morawiecki told a press conference.

Poland confirms 17th coronavirus case amidst fears of epidemic’s profound economic impact

Wojciech Kosc in Warsaw March 9, 2020

The government has introduced a number of preventive measures including sanitary checks at its borders to help contain the spread of the highly contagious virus, its impact now widely expected to hit the Polish economy hard.

Polish software maker SoftwareHut boasts one of the fastest expansion rates in Europe

bne IntelliNews March 6, 2020

Polish software developer SoftwareHut took 33rd place amongst European companies in the Financial Times' annual list of the fastest-growing 1,000 European companies.

CEE monthly bond wrap: CIS bond market off to a strong start in 2020

Ben Aris in Berlin March 5, 2020

Bond markets in emerging Europe were off to a strong start in January but the impact of the coronavirus was already visible by February as bond issues began to drop off.